A mixed bag on the street. Lowered expectations for Citi had the company beating the lowered bar. The company has had pretty much every advantage via bailouts etc and still has a flat quarter. Sellers have targeted Apple today which is dragging the Nasdaq lower.
In penny stocks you are starting to hard the rumblings of the next big promotional stock. Whether or not it goes for the moon like LEXG or crashes and burns like the others remains to be seen. The timetable for it is still unknown but the chat-rooms and message boards are abuzz with ‘soon’.
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Penny Stocks
OptimumBank Holdings Inc. (NASDAQ:OPHC) is up 26.94% today at $2.42. OPHC has traded 458 thousand shares so far today, way above its daily average of 54 thousand shares. OPHC shares hit an intraday high of $3.75 earlier today and has rallied as much as 100% in the past week. The company has a market cap of 58.94 million.
USA Technologies Inc. (NASDAQ:USAT) is up 16.79% heading into midday trading at $1.60. USAT has traded 927 thousand shares so far today, 3 times its daily average. USAT shares are up $0.30 in the past week. The company has a market cap of 51.55 million.
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Converted Organics Inc. (PINK:COIN) is up 64.24% today at $0.0270. COIN hit an intraday high of $0.0279 earlier today. COIN has seen big volume today with 61.4 million shares traded so far, more than double its daily average. COIN shares starting moving last week as volume began to pour into it. OTC stocks are notorious for moving on no major news. When this happens it is likely that a some kind of stock promotion campaign is going on behind the scenes.
FrogAds, Inc. (OTC:FROG) is up 5.18% today at $0.1320 with an intraday high of $0.1470. FROG has traded 6.4 million shares in midday trading and trades 1.7 million shares a day on average. FROG has seen a lot of volatile trading as pumps and news have driven the stock’s price up a few days in the past couple of weeks.
Openwave Systems Inc. (NASDAQ:OPWV) is up 9.34% today at $2.8320. OPWV has traded 2.4 million shares so far today, 4 times its average volume. Openwave Systems announced earlier today it is selling certain assets to Marlin Equity Partners. The company has a market cap of 244.80 million.
The Talbots Inc. (NYSE:TLB) is up 6.37% today at $2.84. TLB has traded 840 thousand shares so far today, slightly higher than its daily average of 825 thousand shares. TLB shares are bouncing back today after falling $0.50 on Friday. The company has a market cap of 201.30 million.
Xinde Technology Company (OTC:WTFS) is up 40.71% today at $0.0985. WTFS has traded 2.8 million shares so far today, way above its daily average 127 thousand shares. It looks like WTFS shares gapped at open this morning on news that it was granted with two national utility model patents.
About Martin Stephenson
